Brief: Suncity Group Updates On Overdue Promissory Note & Convertible Bonds

LET group

02/09/2022 12:21

Sept 2 (Reuters) - Suncity Group Holdings Ltd  1383.HK :
    * UPDATE ON OVERDUE PROMISSORY NOTE AND CONVERTIBLE BONDS
    * MAJOR SUCCESS INDICATED IN PRINCIPLE AGREEABLE NOT TO
DEMAND
IMMEDIATE PAYMENT OF AMOUNTS DUE UNDER PROMISSORY NOTE &
CONVERTIBLE BONDS
    * AS AT DATE, TOTAL OUTSTANDING AMOUNT DUE TOGETHER WITH
INTEREST
UNDER PROMISSORY NOTE AND 2018 CONVERTIBLE BONDS ABOUT HK$606
MILLION
    * AS AT DATE, TOTAL OUTSTANDING AMOUNT & DUE UNDER 2016
CONVERTIBLE BOND IS HK$402 MILLION
    * IN NEGOTIATION OF FINANCING FROM THIRD PARTIES TO ADDRESS
PN
EVENT OF DEFAULT, CB EVENT OF DEFAULT, EVENT OF DEFAULT 2016
CONVERTIBLE BOND

Source text for Eikon:  ID:nHKS5l8tPH 
Further company coverage:  1383.HK 

 ((Reuters.Briefs@thomsonreuters.com;))